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Oct 26, 2018

MTBC Signs Top Pharmaceutical Manufacturer to its Physician Vaccine Discount Program

SOMERSET, N.J, Oct. 26, 2018 (GLOBE NEWSWIRE) -- MTBC (Nasdaq: MTBC) (Nasdaq: MTBCP), a leading provider of proprietary, cloud-based healthcare IT and practice management solutions today announced that it has entered into a new group purchasing contract with one of the world’s top five pharmaceutical manufacturers.  This new affiliation will allow the members of MTBC’s group purchasing organization (GPO) to purchase critical vaccines for their practices at a negotiated discount.

“We’re pleased to now offer our clients vaccine discounts with 3 of the world’s top 5 pharmaceutical manufacturers,” said Al Nardi, VP Strategic Initiatives for MTBC.  Nardi added, “We’re extending these significant discounts at no cost to our clients, and encouraging all other U.S. based physicians who purchase vaccines to join the MTBC family so they can start saving on the cost of the very same vaccines they already purchase.”

This new group purchasing contract has expanded the offering of vaccines to MTBC’s clients at the special discounted rate that MTBC has negotiated with the manufacturer.  As part of a recent acquisition, MTBC acquired the GPO, which enables thousands of physician members to purchase vaccines from leading pharmaceutical companies at discounted rates.   

The GPO is an essential component of MTBC’s initiative to improve healthcare performance improvement through its full suite of services including revenue cycle management, practice management, and innovative healthcare IT offerings.  “We continually look for new and creative ways to address the needs of our clients and increase the value we can offer them,” stated Nardi.

Additional information regarding MTBC’s GPO can be found at www.mtbc.com/gpo.

About MTBC

MTBC is a healthcare information technology company that provides a fully integrated suite of proprietary web-based solutions, together with related business services, to healthcare providers. Our integrated Software-as-a-Service (or SaaS) platform helps our customers increase revenues, streamline workflows and make better business and clinical decisions, while reducing administrative burdens and operating costs. MTBC's common stock trades on the NASDAQ Capital Market under the ticker symbol "MTBC," and its Series A Preferred Stock trades on the NASDAQ Capital Market under the ticker symbol "MTBCP." For additional information, please visit our website at www.mtbc.com.

Forward-Looking Statements

This release contains various forward-looking statements within the meaning of the federal securities laws. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may," "might," "will," "should," "intends," "expects," "plans," "goals," "projects," "anticipates," "believes," "estimates," "predicts," "potential," or "continue" or the negative of these terms or other comparable terminology.

Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Forward-looking statements in this release include, without limitation, statements reflecting management's expectations for future sales, partnerships, expected growth, and increased sales and marketing.  Nothing discussed in this release is anticipated to have a material impact on the Company’s current year financial statements.

These forward-looking statements are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our (or our industry’s) actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all of the risks and uncertainties that could have an impact on the forward-looking statements, including without limitation, risks and uncertainties relating to: the Company's ability to manage growth; the parties’ ability to cross-market and cross-sell their solutions; the longevity of the partnership discussed in this release; and other important risks and uncertainties referenced and discussed under the heading titled “Risk Factors” in the Company's filings with the Securities and Exchange Commission.

The statements in this press release are made as of the date hereof, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligations to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

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SOURCE MTBC

Company Contact:
Rachel Grossinger
Marketing Manager
rgrossinger@mtbc.com
732-873-5133

Investor Contact:
Bill Korn
Chief Financial Officer
bkorn@mtbc.com
(732) 873-5133

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